Almost everyone in the world has the viral, very serious contagious disease known as credit card debt. I unfortunately am one of those not so smart people that max-out their cards, and don't have enough money to pay their bills. Not having enough money to pay your bills causes late payments, which hurts my credit. Everything that I just mentioned I consider my self an expert cause I have experienced all of them.
             When I turned 18, I made the worst mistake of my life. I applied for a Master Card. To this day, I still wonder why that Master Card gave me a $1,000.00 Credit limit. The day that I received my card, I went out and charged a Kenwood cd player for my car. Even though I had absolutely no money in my bank account, or the money for the bill, I still charged $343.00 for my very first purchase.
             In a website written by "Debt solutions"1. I found some useful information that it states that the average credit card balance in America is $7,000 with the minimum monthly payment; it would take the person 25 years to repay the full amount. "Credit card Solutions"1 also stated that Credit card companies solicits the average American 7 times a year through the mail, also the average household has 10 credit cards.
             In "Digging your way out of debt" Paul writes that Americans charged more then 1 trillion in purchases with their credit cards alone last year, more than they spent in cash. The average cardholder's outstanding balance is $4,400 up 123 percent in only a decade. Credit card companies disguise credit cards as changing lives or living a dream, or images of a better life. "Visa, it's everywhere you want to be." "There's always something more to discover," with your Discover Card. Or American Express's classic "Membership has its privileges." Lim, Paul J.: U.S. News & World Report; "Digging your way out of debt"
             To tell you the truth I don't know how I will be able to pay of...